Why Earn a Degree in Statistics Online?
Originally Written for the publisher Wiley’s client: https://www.discoverdatascience.org/
Statistics is a branch of mathematics that allows statisticians to become skilled in making predictions and, through this skill, the art of making other people –and hopefully themselves!—better decision-makers.
Learning statistics isn't easy, and to obtain an excellent job in one of the many realms that statisticians work, you'll need to get a master's degree in statistics from a program that is adequately accredited and suits your personality and needs.
Schooling and studying have changed substantially in recent years. The COVID-19 pandemic made quarantining at home necessary for a substantial time. In addition, the internet's ability to make going to a class remote has permanently impacted how going to school works in the modern world.
Earning a degree in statistics online is a viable option for those generally interested in becoming statisticians for several reasons –depending on your personality type. However, the pros and cons of online degrees may vary.
Here’s why it’s worth considering earning a degree in statistics online:
What Can I Do with a Master’s in Statistics from an Online Program?
A degree in statistics online will provide students with the same career-related advantages as an in-person program would.
Statisticians work in various capacities –they aren’t limited to the title of “statistician.” They often work in data science, engineering, and in actuarial science.
According to the Bureau of Labor Statistics, as of May 2021, the average salary of a statistician is $96,280 annually –where the presumed entry-level education is a master's degree in mathematics or statistics.
A master’s degree in statistics online provides the coursework necessary to work competently in any of the capacities statisticians go on to occupy in the world of work.
In the most basic sense, statistics master's coursework formally teaches students how to quantify uncertainty, update their beliefs in the face of new evidence, and determine probabilities, expectations, and the effects of potential solutions to multiple different outcomes, among other skills.
These skills are learned through courses like applied statistics, probability theory, statistical theory, and stochastic processes. Not only are these skills learned –more importantly, they're learned such that they could be used with empirical precision.
When statisticians are given a comprehensive dataset, they tend to be startlingly accurate –an essential skill in any institution. This is because institutions are always trying to make predictions on a large scale.
How to Find the Best Degree in Statistics Online
There are several essential parameters to consider in your search for an online master's degree in statistics. For example, one can focus on various areas of specialization within statistics in the context of a master's degree.
Bachelor's degrees typically do not involve specialization because classes are more extensive and professors responsible for them have too many responsibilities to handle mentoring a graduate student through an honors project.
So that's usually something dedicated to star pupils with bachelor's degrees, whereas it's the norm in a master's.
Likewise, suppose there is a specific area of interest you have in mind, such as applied statistics or probability theory. In that case, one should consider applying to an applied statistics master's online –where most of the degree will center around a specific method of manipulating, interpreting, and practicing utilizing data.
However, there are two main factors to consider when searching for the best degree in statistics online: accreditation and your personal preferences.
If an online master’s program in statistics is not accredited by the American Statistical Association (ASA), it would be unwise to enroll in it because this is something employers check for.
Likewise, you might not get the best education in an unaccredited program. After all, the reason for the American Statistical Association and other accreditation institutions is to ensure quality assurance in the curriculum.
Personal preferences are also essential to consider when searching for an online program in statistics, as not all programs are organized around the same values.
Values in an online program refer to their attitudes toward the student body and other staff, especially regarding flexibility.
Luckily, because we've narrowed your search down to programs only accredited by the American Statistical Association, there will be slight variance across programs. The standard is to provide students with as much flexibility, autonomy, and guidance as is expressly needed –that means do not be afraid to ask for help! That's what being in school is for –you cannot learn without assistance.
Here at Discover Data Science, we have compiled a list of the best online master's degree programs, so you don't have to go through the hard work of narrowing programs down by accreditation and personal preferences yourself.
Why an Online Statistics Degree May Be Better for You
Now that we've answered the question "what can I do with a master's in statistics?" and have given a sketch of what to expect regarding coursework and online options, what are the pros and cons of online degrees in statistics?
The pros and cons of online master’s degrees in statistics depend on your personality.
For example, if you are highly extroverted –which most people are—then an online degree will make you more susceptible to feelings of loneliness and isolation.
In contrast, it will be the most suitable option if you are highly introverted because introverts find their energy away from people and feel drained of it in their presence. Studying becomes easier because there is less mental chatter in solitude for introverts.
Anyone who is highly conscientious will do well in an online degree –especially because the influence of others tends to diminish the positive effect of conscientiousness on individuals from the perspective of personality psychology.
In contrast, someone who isn't highly conscientious would benefit more from being in person. This is because it will give them a greater sense of accountability –proximity to others can intensify one's perception of the stakes.
In addition to personality traits like introversion and extroversion, personal preferences –whether strongly influenced by personality—can tip the pro/con scale when choosing to do your degree online, in-person, or in a hybrid setting.
For instance, someone who has a child and a job will benefit more from an online program because online programs typically have part-time options that can fit into such busy schedules. A huge reason for this is that the completed coursework and studying are entirely self-determined.
Likewise, what constitutes most people's idea of a "busy schedule" is that they are receiving unexpected phone calls, emails, or other correspondences they must respond all day. But, again, this can only be accommodated using an online program to complete one's coursework.
It's nice to know when going to school online. Finally, you will not be reprimanded for slowing down when life gets in the way. It is vital to strive as hard as you can not to fall behind, even when unfortunate circumstances inevitably befall you, but also to know when it's time to slow down –and that you are, fortunately, able to through the online degree flexibility.
Online programs best suit those who can genuinely trust themselves on a self-determined schedule. And while that might be you, there’s no shame in admitting an in-person program might be better suited for you. Just because something works well for some doesn’t mean it is a panacea.
This is why, regarding schooling, not just online options but flexible options are the most ideal. Hybrid learning invites a broader degree of such options. It should also be considered by those who like to have a varied schedule.
Next Steps in Obtaining a Master’s Degree in Statistics Online
Getting a master's degree in statistics online is a valuable way to obtain a highly lucrative and practical set of skills. The Bureau of Labor Statistics also states that the occupational field of statistics is slated to grow by 31% over the next ten years –which they consider "much faster than average."
In other words, for the next ten years, jobs related to math and statistics are expected to grow in quantity at a higher rate than most other industries.
This growth, however, isn't simply related to the number of jobs or salary –it is also associated with the types of jobs statisticians are qualified to do.
Statisticians work in data science, engineering, business, education, and government. More accurately, they are present in many departments in all large-scale institutions.
The number of departments statisticians will be seen in going forward will grow with the advent of prediction-provoking phenomena like artificial intelligence, climate change, and war.
As long as humans exist, we will go on making predictions and making decisions based on them –and as long as this continues to grow, so too will the field of statistics. And when it comes to growth here, there is no foreseeable end.
If you want to pursue an online master's degree in statistics, click here to learn more about the best programs available online.
